Learn The Financials

How to save money wisely!

2010-07-12T19:35:00.000-07:00

In today world we are constantly up against recession, inflation and other economic situations that can potentially decrease our “savings” but a little common sense and strategic planning you can bank and save money for those rainy days. I have outlined a few easy to follow steps that should help you along your financial journey.
Create a budget for bills, food and other living expenses. A common rule of thumb would be to set aside 5 percent of your paycheck for savings. However, the more money you are able to save, the better.
Try using a "pay as you go" mobile phone, instead of having a home phone with long distance. Pay as you go can keep you from making any long distance calls on a whim and running up your phone bill.
When you are shopping for food or other essential items, make a list. It will help you to organize your spending habits.
Bulk is good. Think about shopping and buying in bulk. Save money grocery shopping by planning meals in advance and bulk-buying. You can also save money by cooking in bulk. This is a real way you can save money with little preparation and almost no extra outlay. Always purchase generics when you can. Prepared foods and convenience foods will always be much more expensive than the generic ingredients needed to make the food. Preparing food in bulk and in advance also gives you the opportunity to plan ahead and be more accurate in your budget. Save Money by buying in bulk whenever you can. One thing to be aware of when buying in bulk is to be sure that any product you buy will get used before it goes bad - you won't save money if you have to throw stuff away. Buying in bulk is not only a good way to save money it is also a good strategy for coping with and surviving emergencies.
Stay away from buying top brand names and designer labels. Shop at stores that offer discount prices. Try visiting flea markets.
Try not to believe in appearances. If you are trying to keep up with your rich neighbors, you might be disappointed. Take care of your future and forget about material things, like appearances.
Try walking, using public transport or using a bicycle to cut fuel costs. Driving a car can be expensive, particularly when you add in the cost of insurance.
Last but not least the most important money saver of all.
Use less, this money saving tip is a lesson we all need to learn. We live in a consumer society where waste is a huge problem. If we could all use and consume less there would be less waste, less power consumption, and the benefits for you are SAVING MONEY. Consider using less shampoo when you wash your hair, this may not mean washing your hair less effectively it means not flushing the excess shampoo and your money down the drain. What about saving on heating? Turn the thermostat down or put on extra clothes when you are cold. Turn off lights, the TV and the computer when they are not in use. Each little saving you make will build up and enable you to save money. Huge savings in energy can be made which will save you money and be good for our planet and the other people on it.

I hope I was able to help find ways to save money so that in the future you are able to save for the things that matter in life.

How To Choose The Right Mortgage

2010-06-23T21:11:00.001-07:00

Look carefully at your current financial situation. Try to determine what your financial picture will look like over the next several years.
Study interest rates to get a sense of where they are headed. The Wall Street Journal, Barron's (printed on Sunday only) and some of the better Sunday newspapers have comparative interest rate information for the last year.
Determine how much you will be putting down on your house and how much you can afford to pay monthly. The only way to get a complete picture of the mortgage fees is through the Good Faith Estimate (GFE). Be sure to ask your lender for a GFE before you commit to a loan. This document will list all the expected fees and pre-paid expenses you will need to pay at or before closing.

Comparing fees and interest rates to make the best decision is often difficult, but there is one piece of information that makes the process easier. The Annual Percentage Rate, or APR, combines all the fees and interest expenses over the life of the loan into one number. Generally, a loan with a smaller APR is the better loan, though the APR for a variable rate mortgage may not always represent the likely future cost of the loan.
With increased competition among lenders, mortgage flexibility has become an even more important consideration than before when you are choosing a mortgage. Some things to look for when thinking about how to choose your mortgage and how to choose a mortgage lender include your payment terms and overall flexibility.

For example, can you overpay on your mortgage payments when you have extra cash? The ability to make extra payments (and when you can make them without penalty) is also a consideration when choosing a mortgage. Some mortgages won't allow you to do this, so if you think you might have some extra cash once in a while and might want to make some additional payments, make sure you look carefully for this option.

Another area of flexibility includes the ability to convert your mortgage to a longer term or to have an ‘all in one’ account where your income and savings sit in the same account as your mortgage and work to pay off interest quicker.

In summary, although you will have to do your homework when choosing a mortgage, the savings and flexibility are generally worth it in the end for many people. Remember, cost is most important when you consider how to choose your mortgage and how to choose a mortgage lender, but use the competitive market to your advantage to get what's right for you!

How to choose a bank!

2010-06-13T18:04:00.000-07:00

Choosing the right bank can be very stressful, As consumers we tend to be skeptical about various issues regarding our banking needs, so if you are deciding to open a bank account you may want to read this article here to determine which financial instrument is best suitable for you. The first crucial step you need to take is to determine which bank is the appropriate one for you. There are so many banking institutions available nowadays that choosing the best one can be a bit confusing. However, this process need not be complicated. All you need to do is to answer the following guide questions and I’m sure you’ll be able to easily choose the right bank in no time.

Banks are separated into 3 types of banks as you can see indicated below;
Commercial banks provide services such as accepting deposits, offer financial investments and loans. Their products are usually geared towards the needs of businesses and corporations.
Thrift or Savings banks are focused on cash deposits and originating home mortgages. They help individuals and families to plan a stable financial future. Rural banks help rationalize the development of the regions by financing projects that support agricultural progress in the country. They usually offer high interest yields for deposits and investments. Besides the different types of banks you need to find a local bank with the best possible rates for your money.
You need to get the lowest rates possible, The only time you might want to consider getting a bank with moderate and not too low interest rates is if the bank is next door. Since this will save you time in the long run, then in this instance, you can most certainly get a bank with a not so low interest rate for your convenience.
The first thing you need to remember is that your bank needs to be totally available and accessible to you. The number of branches would preferably saturate the entire nation in order for you not to have to drive hour after hour searching for an ATM machine that has your bank's name on it. This will save you money in the long run by not having to buy gas or fill up your gas tank just to be able to go to your bank.
Find a bank that has an ongoing, easy to use, easy interface online banking service. This is even better than finding a bank next door. This is because you will be able to deposit money online as well as make withdrawals into your debit card right from the comfort of your favorite chair at home or form your cubicle in the office. You need to find out which banks not only have online services but also if these services are easy to use. It does not make sense to get lost and lose thousands just trying to make a withdrawal.
Check out Rate Line which has all the information you could possibly hope for. Rate Lines is one of the best places that you can go - not only they provide free information, but they also make sure that all of your concerns will be properly answered through their articles and documents posted on the Website.
Once you know what you want, start shopping and comparing. You can use the list below to start a checklist. Most institutions will have everything you need on their Website. If not, call (or walk in) and ask – you'll get a preview of the customer service. Look for fee schedules, rate sheets, and hours of operation while you’re hunting online.
Do not rush into opening a bank account just for convenience, take your time and fully research a bank that is not only convenient for you but practical as well regarding fees and policies.

Good Luck finding a bank and make sure you are appreciated as a customer!

Ten ways to supplement your income

2010-06-04T09:03:00.000-07:00

Hey Everyone,

do you have bills piling up or behind on your mortgage or rent? Do you simply need to make some extra money for that get away vacation? if you are like me, then you know that making extra money is always beneficial no matter what you do legally. This article is about 10 ways to supplement your income while working your regular job. Although, it may not make you rich having a few extra dollars in your pocket is sure to make you smile. Lets face it we all wish we had the magic solution to make money without the hard work or long hours at the office. I have narrowed down 10 ways to make some extra money without breaking your back or mind.

1) Sell Online

Clean out your closets, find some good deals for resale on craigslist or your donation center, create your own items to sell on auction sites like e-bay, specialty sites (such as Half.com for books, DVDs, and CDs or Etsy for crafts), or even craigslist.com.

Read advertisements. With the saturation of advertising in our culture, some companies have turned to promoting their wares through websites like MyPoints and FreeRide, which pay for your attention. Sign up at one or several of these sites to earn points or cash for reading advertising email or visiting companies’ websites. You “earn” more (get money back) if you shop through these sites, but you can slowly add cash or points to your account without buying anything.

2) Search the Internet.
Working on a similar principle, sites like SearchCactus pay you a small amount to use their search engines. They work by pointing you to advertisers’ sites and by sharing their revenue from the banner ads they sell. At least one site, GoodSearch, allows you to choose a charity to receive your share of the revenue instead. One downside to using these search engines is that the results, particularly for specific and unusual searches, are generally not as good as the results you’d get from a more well-known search engine.

3) Write articles or shoot videos.
Sites like Associated Content and Gather pay users to produce content for their sites. These community-based sites, which also operate by sharing their advertising revenue with you, sometimes offer bonus incentives for commenting on others’ work, as well.

4)Sell advertisements for your own site.
If you have original content ideas and computer skills, you can build a following and potentially earn more selling advertising on your site than you would earn working for a revenue-sharing site.

5)Let marketers follow you.
Often billed as getting paid to surf the ‘Net, several websites will pay you for downloading and running a “toolbar” that tracks your online activities. One leading site in this category is Nielsen Net Panel, which I haven’t tried personally. In my experience, these toolbars often malfunction, and they significantly slow down computer operations, but at least they pay to invade your privacy, unlike many other sites that place spyware on your computer without your knowledge.

6) Take surveys.
An alternative to having marketers follow you with software is taking surveys, which gives you greater control over the information you provide. A multitude of survey sites pay you to voice your preferences on products that are on store shelves or in development. Some sites offer entries into sweepstakes; others pay a few dollars for completed surveys when you fit a particular demographic profile. Two of my favorite survey sites are Survey Spot and Global Test Market. Beware of sites that ask questions like “Do you prefer Coke or Pepsi?” These “surveys” are usually just ploys to get you to buy something. Legitimate marketing surveys ask more in-depth questions and include questions about your age, gender, and other demographics.

7) Refer friends.
More sites than I can count offer you incentives to encourage your friends to join. (The more subscribers they have, they more they can earn from advertisers.) Many “get-paid-to” sites, including those that fall into the categories above, offer bonuses for referrals. Some sites offer real earnings only for referrals and have a complex system that strongly resembles a pyramid scheme.

8)) Turk .
Amazon’s Mechanical Turk website offers small cash payments (usually about a nickel each) to complete tasks that humans can do better than computers. At any given time, you can find a variety of interesting work – transcribing, finding information, writing trivia questions – to keep you entertained.

9) Enter contests.
Contests abound on the worldwide web. Though they certainly can’t guarantee an income (even a small one), you might earn money (or win other “fabulous prizes”) by entering one or several of these often-free drawings. Like most online earning-opportunities, contests are generally tied to the advertising industries, so be prepared to get some spam. You might even consider opening a free e-mail account just for the purpose of entering contests and taking advantage of other earning opportunities.

Few of these activities will pay your rent – most pay less than minimum wage, with only a limited amount of “work” available. However, if you enjoy doing any of these things and don’t mind being online during your time off, you can earn more than you would watching TV.

Search for advice from other users before spending much time on any particular site, however. Some “get-paid-to” sites are unreliable; others pay quickly (if not well) and offer excellent customer service. As a general rule, a site that asks you to pay a fee to point you toward money-making opportunities, promises to make you an income big enough to quit your job, or has small print about completing a certain number of offers is probably too good to be true.